The €17.50 per share deal, which values the business at €557m, was challenged by Charity & Investment Merger Arbitrage Fund (CIAM) in July this year.
It was reported at that time that the appeal would push the completion – which was initially expected on August 30 – back by four to six month.
The court will hear the complaints of two minority shareholders on February 27, which means the deal will not be completed before mid-March, said the FT.
Club Mediterranee’s board accepted a sweetened bid of €17.50 per share from Axa and Fosun in June, up from the previous offer of €17 per share.
CIAM bought a one per cent stake in the company in May after the €17 per share bid was announced.
The two firms said they would look to accelerate Club Med’s development strategy in emerging markets and strengthen its position in mature markets such as Europe. They will hold stakes of 46 per cent each and the balance will be owned by Club Med managers.
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